FP Markets vs OANDA
Can't decide between FP Markets and OANDA? We've put both brokers head-to-head. Compare their spreads, regulation, platforms, and fees below.
Last updated: May 10, 2026
Executive Summary
FP Markets and OANDA are both well-established forex brokers, but they serve different types of traders. FP Markets scores 92/100 in our TrustMetrics™ system, while OANDA leads with 96/100.
On pricing, FP Markets offers tighter EUR/USD spreads (0.1 pips vs 1.2 pips). FP Markets supports MT4, MT5, cTrader, Iress, TradingView while OANDA offers OANDA Trade, MT4, TradingView, giving FP Markets an edge in platform diversity.
For regulation, FP Markets holds licenses from ASIC, CySEC, FSA while OANDA is regulated by CFTC, FCA, ASIC, CIRO. Both brokers offer segregated client funds and are considered safe for retail trading.
The Verdicts
Most Trusted
OANDA scores higher in our TrustMetrics system (96/100) compared to FP Markets (92/100), making it the safer choice.
Lowest Spreads
FP Markets offers better pricing with an average EUR/USD spread of 0.1 pips, beating the 1.2 pip average of its competitor.
Best for Beginners
With a lower minimum deposit requirement of $0, OANDA is the more accessible option for new traders.
Detailed Comparison
| Feature | FP Markets | OANDA |
|---|---|---|
| Trust Score | 92/100 | 96/100 |
| Spreads From | 0.0 pips | 1.0 pips |
| Avg EUR/USD Spread | 0.1 pips | 1.2 pips |
| Commission | $6.00/lot | $0 |
| Execution Speed | 30ms | 30ms |
| Max Leverage | 1:500 | 1:50 |
| Minimum Deposit | $100 | $0 |
| Instruments | 10,000+ | 120+ |
| Account Types | Standard, Raw, Iress | Standard, Advanced Trader, Premium |
| Platforms | MT4, MT5, cTrader, Iress, TradingView | OANDA Trade, MT4, TradingView |
| Top Regulators | ASIC, CySEC, FSA | CFTC, FCA, ASIC, CIRO |
| Withdrawal Speed | 1-2 business days | 1-3 business days |
| Inactivity Fee | $0 | $10 per month (after 12 months) |
| Customer Support | 24/7 Live Chat, Email, Phone | 24/5 Live Chat, Email |
Which Broker Should You Choose?
FChoose FP Markets if...
- ✓You need the tightest possible spreads for scalping
- ✓You want to trade directly from TradingView charts
- ✓You prefer cTrader's advanced order management
- ✓You need access to a massive range of instruments
- ✓You are a scalper or algorithmic trader
OChoose OANDA if...
- ✓You want to start with a very low minimum deposit
- ✓You want to trade directly from TradingView charts
- ✓Maximum regulatory protection is your top priority
FP Markets Pros & Cons
Pros
- ✓ True ECN pricing with 0.0 pips on majors frequently
- ✓ Very competitive $6.00/lot round-turn commission
- ✓ Access to 10,000+ global stocks via the Iress platform
- ✓ Full suite of platforms: MT4, MT5, cTrader, and TradingView
Cons
- × Iress platform requires a higher minimum deposit ($1,000) and has platform fees
- × Educational content is decent but not industry-leading
OANDA Pros & Cons
Pros
- ✓ Accepts US clients and is heavily regulated globally
- ✓ No minimum deposit requirement
- ✓ Native TradingView integration
- ✓ Advanced charting and elite market analysis
Cons
- × Smaller product catalog compared to IG or CMC Markets
- × Spreads on the standard account are relatively high
- × No MT5 platform
The Bottom Line: FP Markets vs OANDA
- ✓ ECN Trading
- ✓ Low Commissions
- ✓ Stock CFDs
- ✓ cTrader
- ✓ Tighter EUR/USD spreads (0.1 pips)
- ✓ US Traders
- ✓ API Trading
- ✓ No Minimum Deposit
- ✓ TradingView
- ✓ No minimum deposit
Both brokers are featured in our top broker rankings. Your choice should depend on your specific trading style, preferred platform, and geographical location.
Frequently Asked Questions
Which is safer: FP Markets or OANDA?
OANDA scores higher in our TrustMetrics system (96/100) compared to FP Markets (92/100), making it the safer choice.
Who has lower spreads: FP Markets or OANDA?
FP Markets offers better pricing with an average EUR/USD spread of 0.1 pips, beating the 1.2 pip average of its competitor.
Which has a lower minimum deposit: FP Markets or OANDA?
With a lower minimum deposit requirement of $0, OANDA is the more accessible option for new traders.
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